US economy grows 3.2% in Q4

The US economy grew at a 3.2% annual rate for the final quarter of 2013, according to the country’s Commerce Department.

The growth was mostly driven by consumer spending and business investment, and marks one of the best six month periods of growth in the past decade.

Many forsee that 2014 will produce the strongest growth since the end of the US recession in mid-2009.

The US Federal Reserve said it would cut monthly bond purchases by $10bn (£6bn) to $65bn. The US central bank had said this week that growth in economic activity had picked up since December. It also said that consumer spending had boosted overall growth prospects.